Thursday, February 14, 2013

Multiple sources of income

When
working for yourself, especially in today’s tough economy, it is not wise to
rely on just one source of income.Although I am currently employed full time, my goal is to replace my
current income completely with income from my own home-based business.My plan for that business involves several different
sources of income.The origin of this
blog came from my search for the best sources of revenue.

It’s
easy and (relatively) secure to stay in your full-time job, but the last few
years of a bad economy have proved that our jobs may not be all that secure
after all.So even if you have no plans to
leave your full-time job, it is a good idea to supplement that income in other
ways.This doesn’t necessarily mean you
need to do some sort of contract work for another business, instead you could
make and sell a product of your own, invest in stocks or a business venture,
start an online business, or find a way to make money from a hobby.

If you
find several ways to supplement your income, and one or two of them falls
through or isn’t paying as much as before, you won’t be hurt as much if there
are other sources to cover the loss.It’s
probably a good idea to always be on the lookout for even more ways to make
money.The internet landscape changes
all the time, ways to make money come and go, you have to stay alert for
changes and be ready to take advantage of new opportunities.

How
many sources of income is enough?It
depends on how much you need to earn, the state of the economy and the quality
of your business ventures.My philosophy
is that more is always better.I plan to
have as many ventures going as I can manage, that way I will have the
flexibility to handle changes in the economy and to increase my income if my
circumstances change and I need more revenue.

The
philosophy of this blog is to search for the best ways to make extra
money.I find the ideas, try them out
and report on what I find.What works
great for me may not work for you.Or
something that didn’t work for me might be a fantastic opportunity for someone
else.Try everything and go with what
works.

1 comment:

Hi, thank you for your posts and your review of various online work opportunities. I just stumbled upon your blog and it has been quite helpful. I enjoy writing an editing. I tried applying for cloudcrowd earlier today, but was told that they weren't currently accepting new members. And I've really been looking for another site thats not a scam. Leapfrog looks promissing so im going to do more research.

About Me

I'm a library paraprofessional with a Master's Degree in Psychology, researcher, blogger and part-time webpreneur. Working for state government is not as secure as it used to be, so supplemental income is needed. I'm investigating and trying out a number of work-at-home ideas that I'll be discussing in Leaving Low Wages. Because we get stuck from time to time, I've started Action Does It so we can all learn some motivational techniques together.
Your comments are welcome, the more people we have contributing ideas the smarter we all will be.